SEATTLE, Jan. 11, 2018 (GLOBE NEWSWIRE) -- CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article covering FinCanna Capital Corp. (CSE:CALI) (CNSX:CALI) (CALI.CN) and their path in California’s licensed medical cannabis market.
The cannabis industry has experienced tremendous growth over the past couple of years. According to Cowen & Co., the U.S. industry could exceed $50 billion over the coming years as more states liberalize their marijuana policies. Medical marijuana enjoys the broadest support across the political spectrum as researchers continue to uncover new ways that cannabinoids can help address serious medical conditions.
The company recently went public on the Canadian Securities Exchange (CSE) and raised C$14 million to invest, among things, in a ground breaking licensed medical cannabis campus to be developed in Coachella, California. The medically-focused approach could help avoid some of the issues that could face the recreational side of the industry moving into the new year.
Sessions’ Surprising Memo
United States Attorney General Jeff Sessions surprised the legal cannabis industry by rescinding the Obama era Cole Memo that helped pave the way for state-wide legalization. While the new memo does not implement any changes to federal law, it removes previously non-binding guidance issued to U.S. attorneys and reinforces that federal prosecutors should exercise their discretion in determining whether to prosecute recreational cannabis-related violations of U.S. federal law.
“Based on the nature of the memo from Sessions and the public response from several U.S. attorneys, we don’t expect any real impact on the growth potential of the licensed medical cannabis industry operating legally under state laws and the companies in which we seek to invest,” said FinCanna Capital CEO Andriyko Herchak. “We will continue to pursue our business strategy of investing in best-in-class businesses in the licensed medical cannabis industry that operate in full compliance with all state laws and local regulations.”
FinCanna Capital and many other industry experts believe that the Sessions memo could actually pave the way to greater progress. In particular, the memo could create an impetus for members of both political parties to unify in efforts to create a clear federal policy further in support of the licensed medical cannabis industry.
Moving Forward with Medical Cannabis
FinCanna Capital remains focused on identifying investment opportunities within the licensed medical cannabis industry. With a focus on California’s market, the company’s flagship investment is in Cultivation Technologies Inc. (CTI), which plans to construct a 111,500 sq. ft. facility in Coachella, California. The facility will include 81,600 sq. ft. of cultivation space, a 9,000 sq. ft. extraction and manufacturing center, and 26,300 sq. ft. for activities such as testing and distribution.
Under the terms of its investment, FinCanna Capital will receive a royalty worth 10% of CTI’s revenue from the Coachella facility in exchange for an investment to bring the project to life. FinCanna Capital is also entitled to receive 50% of the profits from CTI’s interim medical cannabis extraction facility, which is currently in operation and is capable of processing an estimated 6,000 pounds of biomass per month and can yield approximately 3.7 million grams of raw oil each year - a significant amount by any measure.
The company recently went public on the Canadian Securities Exchange under the ticker symbol “CALI” after raising approximately C$14 million in capital. With a significant amount of capital in its coffers and the potential for near-term revenues from CTI and royalties from future potential investments, the company is uniquely positioned to generate value for shareholders. Management is committed to building its portfolio of investments by sourcing and funding additional top-tier companies and projects operating in the licensed medical cannabis sector in exchange for royalties.
Please follow the link to read the full article: http://www.cannabisfn.com/fincanna-forges-ahead-californias-licensed-medical-cannabis-market/
For more information, visit the company’s website at www.fincannacapital.com.
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Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/
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